Antiquorum Holds $8.5 Million Rolex Auction

April 22, 2008byJCK Magazine

Watch auction house Antiquorum this month celebrated Rolex’s 100th anniversary with its sale, “Revolution: The Evolution of the Rolex Sport Watch.”

The Apr. 17 thematic auction—Antiquorum’s first for a single watch brand—was held at its U.S. headquarters in New York City, with bidders from around the world on-site, online, and in Milan, Italy (via video conferencing)

The 270 lots took in more than $ 8.5 million.

The event was a year in planning. “As Rolex turns 100 this year, we thought this would be the perfect opportunity to gather the best available examples of Rolex watches, displays and memorabilia to create a unique thematic auction that would appeal to collectors worldwide,” said Evan Zimmermann, Antiquorum USA managing director.

The auction’s results are “strong evidence of collectors’ appreciation for Rolex and established Tudor as a collector’s brand,” said Julien Schaerer, Antiquorum USA auctioneer and watch director of Antiquorum USA.

Antiquorum said the auction set several world records (all prices including buyer’s premium). Among them: a 1979 Oyster Perpetual Date Comex Sea-Dweller, which brought the highest price ($248,800); two 1967 Oyster Perpetual Date Sea-Dweller Submariners–a Double Red (Patent Pending) Mark I and a Prototype No Valve Double Red Sea-Dweller–($237,000 each), a 1973 Submariner issued to the British military ($166,800), and a 1958 Oyster Perpetual Milgauss Black Dial in stainless steel ($190,400).